Crews Bank & Trust Takes Position in Salesforce, Inc. (NYSE:CRM)

Crews Bank & Trust acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel reports. The firm acquired 271 shares of the CRM provider’s stock, valued at approximately $91,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after buying an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce in the 3rd quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC boosted its position in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares in the last quarter. Aljian Capital Management LLC grew its stake in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd raised its holdings in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.5 %

CRM stock opened at $341.80 on Friday. The business’s 50-day simple moving average is $338.68 and its 200 day simple moving average is $296.75. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $327.10 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s payout ratio is currently 26.32%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRM shares. Wells Fargo & Company increased their price objective on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Barclays lifted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Macquarie restated a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,534,090. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,669 shares of company stock valued at $383,286,905 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.